An ETF issuer launches its new S&P 500 ETF

Building on the significant and growing success of its platform.…

Source announces the launch of its new S&P 500 ETF. The new fund tracks the S&P 500 total return (net) index and has 0.20% management fee.

In the current market environment, demand for exposure to US equities market is high and concerns about the Euro continue. This new addition to Source’s already robust US exposure ETF range, gives investors access to the US equities market through important benchmarks.

The S&P 500 index is comprised of 500 companies with a market capitalisation greater than US$3.5 billion and listed on the NYSE or one of the NASDAQ exchanges. This benchmark is widely used to gain exposure to the performance of the large cap US equities market.

Currently, there is over US$100 BN invested in S&P 500 ETFs globally, most of it concentrated in US listed products. The SPDR S&P 500 and iShares S&P 500 ETFs, listed in the US, together account for US$98 BN, representing 13% of total US ETF market. Due to restrictions on the holding or trading of U.S. listed funds, many European investors have until recently been limited to a single European domiciled ETF providing exposure to the S&P 500 index.

The new S&P 500 Source ETF is UCITs III compliant and is domiciled in Ireland. It is listed on the London Stock Exchange and trades in USD.

Commenting on the launch, Ted Hood CEO of Source said, “We are delighted to add the S&P 500 Source ETF to our range of products providing exposure to the US equity market. The S&P 500 index is an important benchmark and a good compliment to our growing suite of US exposure which includes the S&P US Select Sectors, MSCI USA and the Russell 2000.”

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Source: ETFWorld – Source